Uniti Group (NASDAQ:UNIT) Announces Quarterly Earnings Results

Uniti Group (NASDAQ:UNIT) announced its quarterly earnings data on Monday. The real estate investment trust reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.80), Briefing.com reports. Uniti Group had a negative return on equity of 2.52% and a net margin of 97.46%.During the same quarter in the prior year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was up 212.8% compared to the same quarter last year.

Uniti Group Price Performance

NASDAQ UNIT opened at $7.26 on Monday. The business’s 50-day simple moving average is $7.64 and its 200-day simple moving average is $6.79. The firm has a market capitalization of $1.07 billion, a P/E ratio of 1.42 and a beta of 1.47. Uniti Group has a 1-year low of $5.30 and a 1-year high of $11.73.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price target on Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Barclays set a $8.00 target price on Uniti Group in a research report on Thursday, January 29th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.83.

Hedge Funds Weigh In On Uniti Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its stake in shares of Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,795 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Uniti Group during the 4th quarter worth approximately $72,000. Cibc World Markets Corp acquired a new stake in Uniti Group in the fourth quarter worth $78,000. United Services Automobile Association bought a new position in shares of Uniti Group during the first quarter worth $80,000. Finally, Cibc World Market Inc. bought a new stake in shares of Uniti Group in the 4th quarter valued at $81,000. Institutional investors own 87.51% of the company’s stock.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.